Question

What are the differences and similarities between borrowing money from moneylender, banks and self – help groups?

Answer 1

The moneylender, banks and self-help groups help in lending money to the people in different conditions.

A moneylender gives personal loan at high rates of interest. The banks lend money at a different rate that is more efficient.

Then the self-help groups help in the providing money by certain NGOs that work for the welfare of people.

Answer 2

Answer:

the difference is that money lenders do not need any productive reason while bank needs and shgs gives money in emergency.....similarity is that these all needs a interest rate on paying loan.